Barclays Joins UBS in Pursuit of African Millionaires

Barclays Plc is joining Citigroup Inc. and UBS AG in targeting millionaire clients in Africa as the continent’s fastest-growing economies swell a rich list topped by billionaires Aliko Dangote and Johann Rupert.

Barclays Africa Group Ltd., in which the London-based bank will hold a 62.3 percent stake, is seeking to build on experience managing wealth in South Africa after acquiring eight African operations previously run by its parent. That expansion depends on regulators in countries including Kenya, Ghana and Mauritius, said Chief Executive Officer Maria Ramos.